47% increase in global M&A between 2013 and 2014 prompts Emad Mansour to create an investment bank to capitalize on MENA region’s investment opportunities
17 MAY, 2015: Audacia Capital, the newly established investment bank licensed and regulated by the Dubai Financial Services Authority (DFSA) held a reception at Ritz Carlton Hotel, DIFC to mark the official launch of its operations. The reception was attended by government officials, leading businessmen, bankers and financial experts from the UAE and the region.
Emad Mansour, former CEO of Qatar First Bank and a leading expert in MENA’s financial markets, to capitalize on the region’s growing investment opportunities, founded Audacia capital. It was established with paid up capital of around AED 100 million and aims to target deals worth between $15 – 50 million, focusing on fast growing sectors including healthcare, education, real estate and retail. To reinforce investor confidence, Audacia Capital will seed investments with its own capital alongside other investors.
Audacia’s management team includes highly skilled private equity professionals with combined 50 years’ experience in the financial services arena. During the past five years, the team executed over 20 significant transactions across the MENAT, Africa and UK regions with an aggregate value of more than $1 billion.
Emad Mansour, Founder and CEO, Audacia Capital said: “We are proud to launch Audacia Capital at this exciting time. The region continues to witness robust economic growth where different countries continue to diversify their economies into non-carbon sectors and encourage entrepreneurship hence creating ample investment opportunities. Our aim is to build Audacia Capital into a fully-fledged investment banking powerhouse in the region by offering world-class investment opportunities and securing attractive rates of return to our shareholders and co-investors.”
Mansour continues: “2014 was a big year for M&A and private equity as global deal activity jumped 47% between 2013 and 2014. These exciting growth conditions prompted us to establish Audacia Capital to capitalize on these opportunities. We have few promising deals in our pipeline and we and are confident that Audacia Capital is well positioned to play a leading role in the investment banking landscape of the region.”
Mansour has more than 23 years of banking experience in the GCC. Most recently, he led the team that established Qatar First Bank (2008), growing it into a bank with more than $1bn in assets under management. During his career, Emad has also played a leading role in numerous high profile transactions including the initial public offering of Kingdom Holdings, Mobily, and Al Inma Bank. In addition, he played a significant role in a number of successful acquisitions such as Qatar Engineering and Construction Company, Kuwait Energy, English Home (Turkey) and Al Noor Hospital in Abu Dhabi.
Audacia Capital has chosen Dubai as its headquarters because of its robust, world-class regulatory and legal frameworks, and easy access to regional and international cities. The city is also strategically located as a bridge between East and West, whilst also enjoying the reputation of being a widely recognized global investment hub.
According to Thomson Reuters, Middle East equity and equity-related issuance totaled $11.4 billion in 2014, a 173% increase in activity from 2013 ($4.2 billion). In spite of this increase in growth, private equity remains a largely under-utilized asset class in the MENA region with potential for further growth particularly in the mid cap segment where access to funds is limited.
